Frank Lamby, chief risk officer of Germany's Hypo Real Estate Group, has been nominated to replace Johann Berger as head of Hypo Real Estate Bank AG's managing board when Mr. Berger leaves to join the managing board of HypoVereinsbank.Mr. Berger is leaving the post at Hypo Real Estate Bank "at his own request," Hypo Real Estate reported. "Since 2003, Johann Berger has been a member of the managing board of Hypo Real Estate Bank and Hypo Real Estate Holding AG, and has been one of the main driving forces behind the restructuring process in Germany, which he has successfully completed," the company said. Mr. Lamby is expected to officially replace Mr. Berger on Hypo Real Estate Bank's board on April 1, 2005. Mr. Lamby will retain his position as chief risk officer of Hypo Real Estate Group but will give up his current position as executive director at Hypo Real Estate International.

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